Balanced annual budget adopted

Tuesday

Jun 25, 2013 at 4:44 PMJun 25, 2013 at 4:46 PM

By Ami RidlingDaily News Staff Writer

YREKA – During its regular meeting on June 20, the Yreka City Council passed a resolution, adopting the 2013-2014 Fiscal Year Budget. “The good news is the budget is balanced, but barely,” commented Yreka city manager Steve Baker. “It does not mean all of our needs are met.”He noted that the city is challenged by a lack of funding for street maintenance. However, the budget is subject to revisions throughout the course of the year based on revised revenue projections and identified emerging needs. According to the agenda’s supporting documents prepared by Yreka finance director Rhetta Hogan, the total estimated general operating fund revenues and transfers in are $4,779,294 and expenses and transfers out are $4,737,653. The positive difference will be allocated to the budget stabilization reserve. Citywide total expenses for all funds are $13,734,661 that are covered by a combination of anticipated revenues of $13,592,901 and accumulated balances. Yreka mayor David Simmen commented, “City staff has done an outstanding job of balancing the budget.”